August 5, 2017

Nifty can Bounce Towards 10198-10355 in Coming Days – Elliott Wave Analysis

Nifty opened higher at 10136 today but declined just after opening and traded with negative bias for rest of the day. Nifty declined to register day’s low 10054 before closing 33 points down at 10081.

Yesterday, Bounce above 10128 towards 10198-10355 was expected in coming days either from 10108-10093 range or from 10065-10003 [in case wave (ii) turns into Irregular Correction]. Suggested to buy Nifty in 10108-10093 range with stoploss of 10092 OR wait for decline till 10065-10003 range to initiate longs if Nifty breaks below 10093. Nifty breaks below 10093 (stoploss triggered) and entered in 10065-10003 range. Now, let’s have fresh look at latest charts for further scenario.


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